MyMichigan Health $1.9 Million ERISA Class Action Settlement

MyMichigan Health $1.9 Million ERISA Class Action SettlementParticipants in or beneficiaries of the MyMichigan Health 403(b) plan may qualify to receive a cash payment from a class action settlement.MyMichigan Health $1.9 Million ERISA Class Action SettlementWeekly NewsletterClass actions settlements delivered to your inbox.Thank you! Check your inbox for a welcome email.Oops! Something went wrong while submitting the form.William C. GendronEditor in ChiefPublishedSeptember 4, 2026 5:47 PMUpdatedSeptember 4, 2026Join the DiscussionParticipants in or beneficiaries of the MyMichigan Health 403(b) savings plan who used either the GoalMaker investment tool or directed any part of their account to the Guaranteed Income Fund between March 18, 2019, and June 12, 2026, may be eligible to receive a cash payment from a class action settlement.MyMichigan Health agreed to pay $1,900,000 to resolve a class action lawsuit alleging it improperly managed the plan’s stable value investment option in violation of certain provisions of the Employee Retirement Income Security Act of 1974. Who are the class members?Eligible class members are participants in, beneficiaries of and alternate payees of the MyMichigan Health 403(b) savings plan who used the GoalMaker investment tool or directed any part of their account to the Guaranteed Income Fund at any time from March 18, 2019, to June 12, 2026.How much is the settlement payment?Pro rata cash payment: Eligible class members will receive a pro rata cash payment from the net settlement fund. The payment each class member receives is based on their average balance in the plan's stable value investment option compared to the total of all class members' average balances in that option. There are approximately 18,000 class members.How to claim a class action paymentEligible class members do not need to file a claim to receive their share of the settlement.